In the fall of 2007 and winter of 2008, two Harvard Business School colleagues and I held four forums with groups of about fifteen business leaders each in Europe, Asia, Latin America, and the U.S. The purpose of these meetings was to generate a dialogue with some of the best leaders in the world about the challenges they believed lay ahead for business, and for capitalism in particular: what problems, we asked, would we face in the 21st century for which the School should prepare its students? The recession had not yet begun, and after the crash in the fall of 2008, the popular view was that no one had seen it coming. But many of the leaders we talked to back then described the system’s weaknesses along with a list of now obvious problems.